SIDBI sanctioned Financial Assistance to AU SFB and Jana SFB

Current Context: The Small Industries Development Bank of India (SIDBI) has granted financial assistance support to two small finance banks (SFBs) namely: AU SFB and Jana SFB.

• The financial assistance of Rs 650 crore was sanctioned to both the SFBs.
• The funds will be utilized to finance companies and Micro Finance Institutions (MFIs).
• Due to this, various businesses will receive support to tackle the crisis raised due to pandemics in business activities.
• The informal MSME sector will be highly benefited from this support.
• Static Part: 
• HQ of SIDBI: Lucknow, UP
• Chairman and MD of SIDBI: S Ramann

Question: 

Q.1 SIDBI to grant financial assistance of Rs 650 crore to which of the following SFBs?
a. AU SFB
b. Equitas SFB
c. Jana SFB
d. Both (a) and (c)